Handbook Skill Development Program of Intern Accountants

Transcription

1 Handbook Skill Development Program of Intern Accountants Department of Accounting Faculty of Management Studies and Commerce University of Sri Jayewardenepura Gangodawila, Nugegoda Tel: Website:

2 OUR VISION To prosper lives through learning OUR MISSION To be the premier centre of excellence in accounting education, research and industry engagement in South Asia OUR VALUES Wisdom Intellectual rigour Professionalism Truthfulness & Ethical conduct Equality Helpfulness and Compassion

3 Contents 1. Introduction Centre for Accounting Internship and Skill Development (CAISD) Course Units offered under the Skill Development Program of Intern Accountants Structure of the Skill Development Program of Intern Accountants Sub-program 1- Development of Accounting & Financial Management (Subject Specific) Skills Sub-program 2: Development of Management and Personal Capacity Skills Sub-program 3: Development of Communication Skills Sub-program 4: Development of Knowledge Seeking and Learning to Learn Skills Evaluation Scheme for the Skill Development Program of Intern Accountants Modes of Evaluation Description of Evaluation Modes Evaluation Procedure of Course Units Summary...10 Appendix 1 : Guidelines for Internship Program in Accounting and Finance...11 Appendix 2 : Forms for Internship Registration...13 Form 1: Internship Registration Form Form 2: Training Agreement Appendix 3 : Form for Internship Supervision...16 Form 3: Internship Progress Report Appendix 4 : Forms for Evaluation of Skill Development...17 Form 4: Training Supervisor s Evaluation Form (TSEF) Form 5: Internship Reflective Journal Form 6: Skill Development Agreement i

4 1. Introduction The main objective of the B.Sc. Accounting (Special) Degree Program is to produce resourceful employable graduates who would satisfy the requirements of the employment market. The Skill Development Program of Intern Accountants is a component of the B.Sc. Accounting Degree Program that has been designed to develop the skills of the accounting undergraduates to make them employable in the managerial positions in the field of accounting and financial management, both locally and globally. This program can be considered as a modification, improvement and extension of the Internship Program in Accounting and Finance, which was in operation since 1994 in the Department of Accounting (DA). In 1991, the DA identified the necessity of developing subject specific skills in the area of accounting and financial management, and introduced compulsory course units in the Degree Program under the title Internship in Accounting and Finance. After many years of experience and experimentation, DA identifies a broad spectrum of skills to be developed under this Skill Development Program of Intern Accountants as indicated below: 1. Accounting and Financial Management (Subject Specific) Skills; 2. Management and Personal Capacity Skills; 3. Communication Skills; and 4. Knowledge Seeking and Learning to Learn Skills. This document provides an overview of the Skill Development Program of Intern Accountants. The next section describes the Centre for Accounting Internship and Skill Development (CAISD). Thereafter, the course units offered under this program are presented. The structure of the program is presented and explained next. Finally, the scheme of evaluation is discussed. 2. Centre for Accounting Internship and Skill Development (CAISD) The DA has established a Centre for Accounting Internship and Skill Development (CAISD) to administer the Skill Development Program of Intern Accountants. This program is conducted under four sub-programs as indicated in Section 4. The CAISD is headed by the Overall Coordinator of the Skill Development Program of Intern Accountants. Under the Overall Coordinator, separate coordinators have been appointed for each sub-program. These 1

5 coordinators provide advice and assistance to students and monitor the respective subprograms. The Centre is open at stipulated time-slots of a week for the benefit of students. 3. Course Units Offered under the Skill Development Program of Intern Accountants During each semester of the third and fourth years of the Degree Program, a course unit under the Skill Development Program of Intern Accountants is incorporated as shown in Table 3.1. Table 3.1: Course Units of Skill Development Program of Intern Accountants Course Code Course Title Type Year Semester ACC 3321 ACC 3326 ACC 4321 ACC 4325 Skill Development of Intern Accountants I Skill Development of Intern Accountants II Skill Development of Intern Accountants III Skill Development of Intern Accountants IV Optional Year III Semester I Compulsory Year III Semester II Compulsory Year IV Semester I Compulsory Year IV Semester II An alternative course unit is available for the benefit of students who do not select the course unit ACC 3321 during Semester I of the III year. 4. Structure of the Skill Development Program of Intern Accountants The structure of the Skill Development Program of Intern Accountants conducted under the four course units consists of four sub-programs as illustrated in Figure 4.1. Figure 4.1: Structure of the Skill Development Program of Intern Accountants Skill Development Program of Intern Accountants Sub-program 1 Development of Accounting and Financial Management Skills Sub-program 2 Development of Management and Personal Capacity Skills Sub-program 3 Development of Communication Skills Sub-program 4 Development of Knowledge Seeking and Learning to Learn Skills 2

6 4.1 Sub-program 1: Development of Accounting & Financial Management (Subject Specific) Skills Accounting and financial management skills are subject-specific skills developed through the Internship Program in Accounting and Finance, where students undergo training in accounting and related fields in actual work settings. Learning by working in a training organization is an out-of-the-classroom, work based learning process. This sub-program helps students to develop skills required to practice as successful accountants, which is through gaining relevant work experience, exposure to management activities and knowledge acquisition at the operational level. This sub-program provides an opportunity for students to gain first-hand experience in applying accounting and financial management principles and techniques to real situations. The guidelines for the Internship Program in Accounting and Finance are given in Appendix 1. The documents used in internship registration and supervision are given in Appendix 2 and Appendix 3, respectively. 4.2 Sub-program 2: Development of Management and Personal Capacity Skills Learning through the experiences of others, adapting to situations, negotiation, interpersonal relations and teamwork, time and stress management, problem solving skills, leadership skills, integrity, ethical conduct, motivation, and emotional intelligence are some of the management and personal capacity skills to be developed under this sub-program. These skills are expected to be developed mainly through the projects organized by the Accountancy and Financial Management Association (AFMA) and the work at the internship organization. The AFMA of which all students of DA are members is a subject based student body established in 1992 to develop soft skills of accounting students. It consists of subcommittees to carry out project activities for the value addition of students. In addition to the office bearers of the AFMA, the other students of the Degree Program are required to serve in at least one sub-committee of the AFMA. These sub-committees carry out projects for the skill development of students under the guidance of the CAISD. During the Semesters I and II of Year II of the Degree Program, a special program of Management and Personal Capacity Skill Development is conducted by a group of experts in personality development and professional skills. This will serve as a foundation program for the development of skills under the Skill Development Program of Intern Accountants. At the conclusion of these sessions, the students are required to prepare a Portfolio of Learning Experiences based on a Reflective Learning Journal maintained by them. In addition, an 3

7 outbound training program is organized during the second year to develop management and personal capacity skills of students. 4.3 Sub-program 3: Development of Communication Skills The majority of students admitted to the B. Sc. Accounting Degree Program have completed their education at school level in the Sinhala or Tamil medium. After admission to the Degree Program, they are required to follow lectures and tutorials, refer textbooks, journal articles and the Internet in English in order to acquire knowledge and techniques relevant to accounting and related fields of studies. Therefore, improving the communication skills in English is essential for the graduates to be competent in the local and global employment markets. Verbal and written communication skills in English are expected to be developed under this sub-program. The Skill Development Centre (SDC) of DA was established in 2008 in order to improve the English communication skills of the students. Four self-learning English language packages have been installed with self-learning and self-evaluation facilities at the SDC. From the date of admission to Year II of the Degree Program, students are encouraged to improve their communication skills in English by using these packages. Through these packages, skills related to reading, listening, writing and speaking in English are improved along with IT skills. The SDC is used to conduct classes for the course unit ACC Communication Skills and Personal Development during the first semester of Year II. In addition, special SDC sessions are conducted for students of slow progress during Year II of the Degree Program. During the third and fourth years, students are required to use SDC facilities on self-learning basis. 4.4 Sub-program 4: Development of Knowledge Seeking and Learning to Learn Skills Critical and creative thinking, analytical ability, enquiry and research orientation, and commitment to life-long learning are the basic skills expected to be developed under this subprogram. Knowledge Seeking and Learning to Learn (KSLL) sessions are conducted by a group of lecturers of the DA to all Year III students. This is compulsory for all Year III students. Therefore, students have to follow KSLL sessions in Semester I of Year III. Students are trained to collect research articles from journal databases in accounting and related fields, gather data from websites using the internet, read research articles, conduct focus group discussions, review and critically analyze research articles and network with academics and students of foreign universities. Finally, a student is required to prepare a research-based assignment and do a 4

8 presentation on a given topic after following the KSLL sessions. These research studies are supervised by the academic staff of DA. The students will be evaluated based on their participation in KSLL sessions, the assignment carried out, and the presentation. Each student is required to maintain the Knowledge Seeking and Learning to Learn File (KSLL File). 5. Evaluation Scheme for the Skill Development Program of Intern Accountants The evaluation of the Skill Development Program of Intern Accountants is carried out based on several modes of evaluation. These modes of evaluations are detailed in the subsequent sections. 5.1 Modes of Evaluation Evaluation procedure of the course units under the Skill Development Program of Intern Accountants is carried out based on the respective sub-programs by using several modes of evaluation as indicated in Table 5.1. Table 5.1 Modes of Evaluation Sub- Skills to be Evaluator(s) Mode of Evaluation program Evaluated 1 Accounting and Financial Management Skills 2 Management and Personal Capacity Skills 3 Communication Skills 4 Knowledge Seeking and Learning to Learn Skills Training Supervisor Panel of Lecturers Panel of Lecturers Panel of Lecturers Panel of Lecturers Supervisor s Evaluation Form i) Training Record Book ii) Reflective Journal and Presentation i) SDF (Skill Projects) ii) Participation in the Special Program on Skill Development (SPSD) iii) Participation in the Outbound Training iv) Portfolio of Learning Experiences developed based on a Reflective Learning Journal Computer based Evaluation Records i) Classroom Participation ii) Written Assignment iii) Presentation 5

9 5.2. Description of Evaluation Modes The evaluation process of each sub-program is detailed in this section. Sub-program 1: Development of Accounting and Financial Management Skills This sub-program is assessed during all four semesters of the third and final years of the Degree Program. Performance of interns is evaluated by the supervisors of the relevant training organization and monitored by the coordinators of the internship program. Training supervisors carry out their evaluation by allocating marks in the Training Supervisor s Evaluation Form (Refer Appendix 4). This form has to be duly completed by the training supervisor with the assistance of a senior officer under whose guidance the intern accountant is undergoing training. In the absence of the training supervisor for certification, the senior officer should complete the form on behalf of the training supervisor. The completed evaluation form has to be sent to the CAISD as a confidential document. The internship coordinators could change the format of the Training Supervisor s Evaluation Form using their discretion, after considering responses received from the training supervisors. Interns are required to maintain their training records and submit them (a soft copy and a hard copy) on a semester basis in accordance with the instructions given by the CAISD, in order to evaluate the subject specific skills acquired. The rules and regulations applicable are available in the training record book and in the departmental website. Further, the students are required to prepare an Internship Reflective Journal, which is a reflection on the learning outcomes of interns on industry experiences. This journal is also used to evaluate the development of accounting and financial management skills during the two semesters of the final year of the Degree Program. The format of the Journal is attached in Appendix 4. Sub-program 2: Development of Management and Personal Capacity Skills Students are expected to enter into a Skill Development Agreement with the CAISD prior to commencing their project activities on which the skills are to be developed (Refer Appendix 4 for the format of the Skill Development Agreement ). If no agreement is signed, students involved in project activities will not be entitled to any marks. 6

10 Each of the interns should maintain a separate file, Skill Development File (SDF) and forward it for evaluation on the date of the final examination of the respective semester. Copies of documentary evidence on skill development activities including Skill Development Agreements and special achievements are to be kept in the SDF. A project activity can be claimed for evaluation only once. An evaluation of skills developed through this sub-program is carried out at the end of each semester of the third year and the first semester of the final year of the Degree Program. The participation in the special program on Management and Personal Capacity Skill Development conducted by the DA during the Semesters I and II of Year II of the Degree Program is evaluated at the end of the second semester of the third year of the Degree Program based on Portfolio of Learning Experiences developed on a Reflective Learning Journal. The evaluation of the participation in the outbound training program is carried out at the end of first semester of fourth year. Sub-program 3: Development of Communication Skills Under the evaluation of communication skills, competence of students in using the English language for communication purposes is examined. The results produced by language examination packages are considered when allocating marks by a panel of lecturers. An evaluation of the performance of self-learning English language packages is carried out at the end of the second semester of the third year of the Degree Program. Sub-program 4: Development of Knowledge Seeking and Learning to Learn Skills An evaluation of KSLL program is carried out under three components; (1) Classroom participation, (2) Written Assignment, and (3) Presentation using multimedia. A hard-copy and a soft-copy with supporting documents of the assignment and the presentation have to be kept in the KSLL File. This file is used for evaluations of this program at the end of the first and second semesters of the fourth year Evaluation Procedure of Course Units Application of the above explained evaluation modes under the respective course units in each semester of the third and fourth years of the Degree Program is presented in the tables to

11 Table Year III: Semester I (ACC Skill Development of Intern Accountants I) Subprogram Skills to be Evaluated Evaluator(s) Mode of Evaluation Maximum Marks No. 1 Accounting and Financial Training Training Supervisor s 40 Management Skills Supervisor Evaluation Form Panel of Training Record Book 30 Lecturers 2 Management and Personal Capacity Skills Panel of Lecturers SDF (At least one skill project) 30 Table Year III: Semester II (ACC Skill Development of Intern Accountants II) Subprogram Skills to be Evaluated Evaluator(s) Mode of Evaluation Maximum Marks No. 1 Accounting and Training Training Supervisor s 30 Financial Management Skills Supervisor Panel of Evaluation Form Training Record Book 20 Lecturers 2 Management and Panel of SDF (At least one skill 10 Personal Capacity Skills Lecturers project) Participation in the 20 SPSD and the Portfolio of Learning Expereinces 3 Communication Skills Panel of Lecturers Computer Based Evaluation Records 20 8

12 2 Management and Personal Capacity Skills 3 Knowledge Seeking and Learning to Learn Skills Panel of Lecturers Lecturers of DA SDF ( Participation in 10 the Outbound Training Program) Classroom 20 Participation Assignment 20 Table Year IV: Semester I (ACC 4321: Skill Development of Intern Accountants III) Subprogram Skills to be Evaluated Evaluator(s) Mode of Evaluation Maximum Marks No. 1 Accounting and Training Training Supervisor s 20 Financial Management Skills Supervisor Panel of Evaluation Form Training Record 20 Lecturers Book Reflective Journal 10 Table Year IV: Semester II (ACC 4325: Skill Development of Intern Accountants IV) Subprogram Skills to be Evaluated Evaluator(s) Mode of Evaluation Maximum Marks No. 1 Accounting and Training Training Supervisor s 20 Financial Management Skills Supervisor Panel of Evaluation Form Training Record Book 20 Lecturers Reflective Journal with 30 a Presentation 2 Knowledge Seeking and Learning to Learn Skills Panel of Lecturers Presentation 30 9

13 6. Summary The objective of the Skill Development Program of Intern Accountants is to develop a wide range of skills in the graduates of the B.Sc. Accounting (Special) Degree to be suitable for employment in the accounting profession. These skills are grouped under four sub-programs, which focus on developing accounting and financial management, management and personal capacity, communication, and knowledge seeking and learning to learn skills. Thus, this program is expected to strengthen the DA s endeavor to develop resourceful accounting graduates to suit both local and global employment markets in the field of accounting and financial management. 10

14 Appendix 1: Guidelines for Internship Program in Accounting and Finance Internship Requirement The minimum requirement of training under the internship program is 400 hours (or equivalent working days) for each semester. A student can commence internship on any day of a semester, provided that he/she completes 400 hours (or equivalent working days) prior to commencement of the semester-end examination. Additional training hours completed during a semester can be transferred to the Skill Development Program of Intern Accountants course unit of the subsequent semester, which has to be duly notified to the CAISD. Training under internship could cover areas such as accounting, auditing, financial management, taxation, and information technology, communication and management skills. Internship Service Providers (ISP) Internship has to be carried out in audit-sector organizations and accounting and audit divisions of non-audit sector organizations. When selecting the organization for internship, the possibility of following lectures and tutorial classes (held from 6.00 p.m. to 8.00 p.m. during weekdays and between 8.00 a.m. to 5.00 p.m. on Saturdays) and sitting for the semester-end examinations conducted during weekends, have to be taken into consideration. Therefore, it is not recommended to obtain internship in outstation organizations. Approved training organizations in the audit sector and the non-audit sector are listed in the Departmental website. Procedure in Placement Selection Students are required to find placements for internship under the guidance of CAISD. If a student finds a placement on his own, he/she has to inform the CAISD. The CAISD also assists students to find placements. In this process, a student is requested to prepare a curriculum vita, contact CAISD to get the curriculum vita reviewed by the internship coordinator and upload it to the CAISD database. The curriculum vita will be forwarded to the Internship Service Providers (ISPs), who are interested in hiring interns. The ISPs will review the curriculum vita and select students who are likely to fit into their training requirements. Thereafter, the selected students will be called through / telephone/ internship notice board for a written test and/or interview by the ISPs. Students should obtain a Letter of Introduction from CAISD, prior to appearing for the interview with the ISP. A copy of the letter should be retained by the student. 11

15 Registration for the course unit After finding the placements, students should get registered online within 2 weeks after commencing the internship. An notification will be sent confirming the registration. In addition, the duly completed Training Agreement should be submitted to CAISD on the stipulated date. This Training Agreement is entered into before the Intern Accountant, Supervising Member of the training organization and the CAISD Coordinator. (Refer Appendix 2 for the Forms for Internship Registration; Internship Registration Form - Form 1 and Training Agreement Form 2) Supervision during the Internship Interns are required to meet an internship coordinator at least once a month by appointment for guidance. At the first meeting, the student should forward the Skill Development File with evidence for the skills developed from the date of admission to the Degree Program including the Skills Development Agreements and maintain records of the meetings in the file. At the subsequent meetings, students should submit the Progress Report (Refer Appendix 3) to the internship coordinator. Students are required to inform the CAISD to update the curriculum vita in the student database. Arrangements to terminate the Internship Termination of the internship arrangement can be initiated by either the intern or the ISP. In such an event, CAISD has to be informed by the intern. Thereafter, the CAISD will take necessary action. 12

16 Appendix 2: Forms for Internship Registration (Form 1 and Form 2) Internship Registration Form Form 1 Name with initials (Mr. / Ms.) : Registration Number :.. Index Number :... Address (Residence) : Telephone/ Mobile : The highest professional qualification(s) achieved:... Name and address of the training organization :... Current Position and the date of commencement of training :... Name and Contact details of the Training Supervisor : The Total Monthly Allowance :. 13

17 Form 2 Centre of Accounting & Internship and Skill Development (CAISD) Department of Accounting University of Sri Jayewardenepura Training Agreement Index Number :.. Registration Number :... Date of Commencement of Training Period : This indenture made at CAISD on this.day of. Two thousand.and between..... (Full Name & Contact Address of Intern Accountant) Registered at Department of Accounting on the one part and (Full Name & Address of Training Organization) and. (Full Name & Address of the Supervising Member of Training Organization) 14

18 WITNESSETH The minimum requirement of training under internship is 400 hours (or equivalent days) for each semester. The Intern Accountant can commence internship on any day of the first or second semester of the third year, provided he/she completes 400 hours (or equivalent days) prior to commencement of the semester-end examination. Additional training hours completed during a semester can be transferred to the Skill Development of Intern Accountants course unit of the subsequent semester, which has to be duly notified to the CAISD. The Intern Accountant shall faithfully, comply with the regulations and requirements of the CAISD and with the instructions of the said supervising member with regard to the content of practical training. The trainee shall during the period of training further comply with the rules, regulations and directions of the training organization and shall, at all times conduct himself with all due diligence, honesty, propriety and faithfully serve the said training organization and follow the instructions of the said supervising member at all times during the work period. The said Intern Accountant shall maintain, a true record of the work performed daily in the form and content prescribed by CAISD and submit such record at the semester-end examination. The said Intern Accountant further undertakes to obtain prior written permission of the CAISD, training organization and of the said supervising member to suspend his/her training or continue such training under another training organization or supervising member... Signature Signature Signature Intern Accountant CAISD Coordinator Supervising Member 15

19 Appendix 3: Form for Internship Supervision (Form 3) Form 3 Internship Progress Report Progress reports are to be submitted to the internship coordinator once in every three months during the internship. Keep copies of your progress reports and file them in the SDF File for evaluation purposes. Department of Accounting Skill Development Program of Intern Accountants Progress Report 1. Student information 2. Internship information Name:... Index No:... Phone: Name of organization:.. Name of supervisor:. Phone Responsibilities and activities: Briefly describe the work you have been doing during the internship. 4. Challenges of internship: Assess your progress towards your learning goals. 5. Problems encountered: Discuss any problems that you faced during the internship. 6. Additional comments/ Information: Your comments to improve the existing program... Date.. Student s Signature Checked and Discussed By; Internship Coordinator s Signature:.. Date: 16

20 Appendix 4 : Forms for Evaluation of Skill Development (Form 4,5, and 6) Training Supervisor s Evaluation Form (TSEF) Form 4 STUDENT INTERNSHIP EVALUATION BY THE TRAINING SUPERVISOR B.SC. ACCOUNTING (SPECIAL) DEGREE YEAR-.. ; DEGREE PART -.. ; SEMESTER -.. Information of the Intern Student (To be filled by the trainee student) Name of the Trainee Student:.. Registration Number.. Index Number.. Training Organization:. Name of the Training Supervisor/ Senior Officer:.. Training Period: From To No. of Hours Covered.. Evaluation of the trainee (to be filled by the Training Supervisor or Closely Monitored Senior Officer under the guidance of the Training Supervisor of the trainee student) Period Applicable for Training:.. Instructions: One of the digits between 1 (lowest) and 10 (highest) (inclusive of both) is to be applied to evaluate a type of quality of a student. Training Supervisor is requested to use the following table in order to evaluate the student by marking X in the relevant cells under the main column of Supervisor s Marks and against each of the Qualities for Evaluation. S.N. Qualities for Evaluation Supervisor s Marks 1 Professional Expertise 1.1 Ability to demonstrate theoretical knowledge Ability to demonstrate technical skills Knowledge of the firm s methodologies and procedures 1.4 Work efficiency and accuracy Contribution to the Firm 2.1 Ability to enhance client/customer relationship Active participation in organizational activities Development of Skills 3.1 Leadership skills & decision making ability Verbal and written communication ability Timeliness Ability to work as a team member Willingness to accept challenging work Ability to learn independently Office Use Any Other Comments:.. Signature of the Training Supervisor/ Senior Officer Official Seal Date:.. 17

21 Form 5 Internship Reflective Journal Name of the Student: Index No: Course Code: Training Organization: Instructions: Reflecting on your internship experience is an important part of your career development. Internship helps you to discover your strengths, weaknesses, skills, values, etc. Take time and carefully complete this journal to reflect your internship exposure. You are responsible to justify the matters that you have stated in the document at the interview. (1)What did you expect to learn from internship? (2)What did you really gain from the internship? (3) What was your greatest accomplishment due to internship? (4) What did you find most challenging about that internship? (5)How were you able to apply your current skills? (6) What did you discover about yourself? (Strengths, weaknesses, dislikes)? 18

22 (7) What influence will the internship experience have on your future academic and career choices and development? (8) What did you learn about politics at the workplace? How will it serve you in the future? (9) What did you learn from people who gained your admiration in the organization? (10) What is your overall assessment about your internship exposure? 19

23 Form 6 Skill Development Agreement Department of Accounting Skill Development Program of Intern Accountants Skill Development Agreement Keep a copy of this agreement and file them in the SDF File for evaluation purposes: This agreement is entered on.... (Date) between CAISD and.. (Name of the Intern) to perform.... (Activity). 1. Student Information Name :... Internship Organization (if applicable): Nature of the Activity: Briefly describe the activity you are going to admit. 3. Learning Objectives and Skills to be developed: Date. Student s Signature Checked and Discussed By; Date. Internship Coordinator s Signature 20